Indian tyre stocks extend losses as oil prices climb further

JK Tyre & Industries

04/03/2026 05:52

** Shares of Indian tyre manufacturing companies extend losses on Wednesday as oil prices climb amid escalating Middle East conflict

** JK Tyre and Industries JKIN.NS, CEAT CEAT.NS, MRF MRF.NS and Apollo Tyres APLO.NS down between 1.9% and 5%

** Brent crude LCOc1 up about 2.2% at $83.2 per barrel, after jumping 4.7% in the previous session

** Key raw materials, such as synthetic rubber (25-30% of raw material cost), carbon black (20%), and other derivatives are all linked to crude oil

** Tyre stocks dropped 1.5% to 4.7% on Monday

** YTD, JKIN down 5%, APLO falls ~12%, while CEAT and MRF lose ~9%

 (Reporting by Anuran Sadhu in Bengaluru)

 ((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))